TASHKENT – China’s 3.2 percent growth in gross domestic product (GDP) in the second quarter of this year amid the COVID-19 pandemic shows the great potential of the Chinese economy, an Uzbek expert said Saturday.
“Thanks to the far-sighted policy of the country’s leadership, China’s economy has returned to growth in the second quarter of 2020 after a historic decline,” Khasan Abulkosimov, professor at the National University of Uzbekistan, told Xinhua.
“The prompt mobilization of all forces and means against COVID-19, the highly organized discipline, the unity of the people and the use of modern medical technologies” have contributed to not only controlling the pandemic but also a significant rise in the country’s economy, said the expert.
Abulkosimov added the gradual revival of China’s economy in the first half of the year demonstrates the sustainability of its development.
“However, it will take some time before the Chinese economy fully recover its previous level due to the severe consequences of the pandemic for the global economy, as well as noticeably growing external risks and challenges,” he said.
Noting China is one of the main investors and trading partners of Uzbekistan, Abulkosimov said China’s economic growth will have a positive effect on the Uzbek economy.
“Today more than 1,700 joint ventures and Chinese enterprises operate in Uzbekistan. The growth in Chinese economy contributes to the revival and regeneration of these enterprises,” he said.